March 27, 2012 •
Placement agents must register and follow executive branch code of ethics.
The Kentucky Senate unanimously approved House Bill 300 on Monday. The bill requires “placement agents” to register as lobbyists and follow state ethics laws. Placement agents are individuals or firms who are compensated for the purpose of influencing an executive agency decision regarding the investment of Kentucky Retirement Systems or the Kentucky Teachers’ Retirement Systems assets.
The bill is a response to concerns raised by last year’s audit of the state pension system. Now the bill returns to the House following technical changes made by the Senate.
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